Prime Minister Manmohan Singh is leaving to Russia with big plans for India at the G20 Summit. At the summit, the PM intends to emphasize the need for development, job creation, infrastructure investment and growth in developing countries.

Following are the excerpts from his announcement before departure.

"I leave today for St Petersburg, Russia, to attend the 8th G20 Summit at the invitation of President Vladimir Putin. The G20's 8th Summit will take place against the backdrop of persisting challenges and vulnerabilities in the global economy.

Though there are encouraging signs of growth in industrialized countries, there is also a slowdown in emerging economies. I will emphasize in St Petersburg the need for an orderly exit from the unconventional monetary policies being pursued by the developed world for the last few years, so as to avoid damaging the growth prospects of the developing world.

There is also an urgent need to reform institutions of global political and economic governance. The Summit comes at a time when we in India have introduced several reform measures and taken steps to strengthen macro-economic stability, stabilize the Rupee and create a more investor-friendly environment.

The G20 Summit, therefore, is an important forum to seek an international climate that is beneficial for all countries. I also look forward to bilateral meetings with other G20 Leaders on the margins of the Summit."

Source: IBN Live

(AW: Sruthi)